LONDON (dpa-AFX) - Ocado Retail Ltd., a joint venture between Ocado Group plc (OCDO.L) and Marks & Spencer Group plc, on Thursday, announced its trading statement for the 13 weeks to 27th February 2022, and reported a 5.7% decline in Q1 revenue, against a challenging comparative and a 4% fall in UK grocery market sales.
Retail revenue for the first quarter of fiscal 2022 amounted to £564.7 million, down 5.7% from the previous year's revenue of £99.1 million.
Meanwhile, average orders per week for the quarter increased 11.6% to 367,500 from 329,300 reported a year ago. Active customer numbers grew 31% year-on-year to 835,000, reflecting strong customer acquisition and despite the tail-end impact of labour shortages early in the quarter.
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